July 24, 2020
FLEX Coin is the cornerstone of the CoinFLEX ecosystem. We have designed incentives leading to a strong demand for FLEX, as well as burning FLEX with some of our profits to reduce supply. There are many use cases for FLEX, including paying for transaction fees on CoinFLEX, reducing your trading fees on our exchange, and many more.
At CoinFLEX, we strive to be as transparent as possible. There was no ICO for FLEX or any sale to private investors in the form of pre-sale. Traders are issued FLEX based on their “Taker” volume according to the schedule laid out in the FLEX Coin Whitepaper. FLEX Supply is being issued to:
|Group||% of total FLEX Coins|
|Traders (Taker Driven Mining)||70%|
|Lenders (OI Driven Mining, to launch soon)||0%|
|Marketing (issued to CoinFLEX)||10%|
|Insurance Fund (issued to CoinFLEX)||10%|
CoinFLEX has incorporated FLEX Coin into the lending/borrowing offerings at present, in the future, CoinFLEX plans to open up other.